Written by: Gurkomal Gill

While 2023 already started with great skepticism on whether there will be an economic downturn, it was tech layoffs that grabbed everyone’s attention. The post-pandemic phase saw recruiters going on a hiring spree with millions of job openings in a tight labor market (1). However, the statistics for tech sector say otherwise. Over the past year, several technology companies including big names like Microsoft, Meta, Amazon and Twitter have laid off more than 100,000 employees and the sector might see more downsizing in the future (2). Not only were there layoffs but many saw their offers being rescinded before the start of new jobs (3). Was it a sudden development or something that was forthcoming?
Here are the layoff statistics for major technology companies (4):
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Written by: Sneha Elavarasan

As the world continues to grapple with the effects of the COVID-19 pandemic, economists are predicting that an upcoming recession is looming. The economic fallout caused by the pandemic has been unprecedented, with entire industries coming to a standstill and unemployment rates soaring. While the world economy showed signs of recovery towards the end of 2021, the emergence of new variants of the virus and the reintroduction of lockdown measures in several countries has once again cast a shadow over the global economic outlook (1). The pandemic has caused major disruptions to the labor market, with many people losing their jobs due to business closures and reduced demand for goods and services (2). In this article, we will explore the upcoming recession and its impact on unemployment statistics. Continue reading…

Written By: Olivia Vanleeuwen

The morning the COVID-19 pandemic was announced, the S&P 500 fell 7% in 4 minutes after the markets opened, triggering a trading curb that halted trading for 15 minutes for the first time since the 2008 financial crisis (1). The markets continued to drop and become unstable, with implications still at play today post-pandemic. It is evident that the pandemic has vastly impacted the financial industry and in hand their risk management strategies. Risk management can be defined as the process of identifying, quantifying, and managing potential risks faced. In the finance industry risk management tends to centralize on the possibility of losses on an investment (2). The pandemic impacted the financial industry by creating a shift to remote work, creating changes in consumers’ behaviours, and putting the industry on the road to recovery. These implications have shifted the risk management strategies of the financial sector.

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Written By: Lameena Chowdhury

The Silk Road was a network of trade routes from the second to the fifteenth century, connecting Asia (majorly, China) and Europe and facilitating trade between them (6). The “new” Silk Road is called the Belt and Road Initiative (BRI). The “road” is a maritime network of shipping lanes connecting China, Southeast Asia, Africa, and the majority of Europe. The “belt” refers to the land routes that run through Central Asia and Europe (3).  Continue reading…

Written By: Matthew Azevedo

The number of gig workers in Canada are by no-means negligible. In 2016, the most recent figure available, approximately 1 in 10 Canadians participated in gig work, and recent events related to Covid-19 has likely made this figure even higher (1). Continue reading…